Bank of Zambia to Launch New Currency Family in March 2025
The Bank of Zambia has announced the introduction of a new series of currency, set to launch on March 31, 2025.
The updated currency family includes six banknotes (K500, K200, K100, K50, K20, and K10) and six coins (K5, K2, K1, 50N, 10N, and 5N). The alpha code (ZMW), numeric code (967), and currency symbol (K) will remain unchanged, preserving the value of the currency.
The new banknote designs draw inspiration from Zambia’s rich heritage and natural beauty, featuring the African Fish Eagle, six of the country’s key waterfalls, and the Big Five animals, which appear on the K20, K50, K100, and K500 notes.
Bank of Zambia Governor Dr. Denny Kalyalya stated in a public notice that the initiative, approved by the Board in July 2021, reflects the central bank’s commitment to providing secure, efficient, and user-friendly currency suited for daily transactions.
He also noted that the introduction of new coins will help reduce the wear and tear issues associated with lower-denomination banknotes, such as K5 and K2.
The Minister of Finance and National Planning will soon issue a Statutory Instrument (SI) outlining the procedures for exchanging old currency for the new series, including the exchange period and designated exchange points across the country.
Dr. Kalyalya assured the public that existing banknotes and coins remain legal tender until the exchange period is officially announced.
While supporting the Go Cashless Initiative, he emphasized the importance of ensuring accessibility for all citizens, particularly those in rural areas where cash transactions remain vital.
